An Insulin drugmaker announced it is making its drug affordable for some consumers and is capping the out-of-pocket cost at $35 per month.
The drugmaker, Eli Lilly, is making Insulin immediately more affordable to seniors on Medicare, following a provision within the Inflation Reduction Act.
The company is automatically applying the price cap for Insulin to people who have private insurance and those without can sign up for Eli Lilly’s copay assistance program to qualify.
The cap applies to all of Eli Lilly’s insulin products, Kelly Smith, a spokesperson for the company, told NBC News. The company will decrease the cost for additional products later this year including Humalog, Smith told the outlet.
“The aggressive price cuts we’re announcing today should make a real difference for Americans with diabetes,” said Lilly Chief Executive David Ricks, according to the Wall Street Journal.
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Source: Gizmodo